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4648 Cool Ridge Court Fort Worth, TX 76133

4 Beds 3 Baths 2,702 sqft Built 2002

INVESTimate

$208,000

List Price

$1,770

$1,593 - $1,947

Rent Est.

$231,774  ( +11.43%)   1 YR EST. FORECAST

PROPERTY INFO

August 26, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $76.98
  • 2 Days on Market
  • MLS # : 14420816
  • Updated Date : 08/25/2020 at 22:39
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,702 sqft
  • Baths : 2 full , 1 half
Listing Agent

All Cities Realty

Listing Agent's Description

Make new memories in this Huge 2702 Sq Ft. home located in a great location. Pretty Laminate Wood flooring in the main areas downstairs, Formal Dining as you enter the home, Master Bedroom is downstairs with dual sinks, separate shower, and large walk in closet, Open Kitchen to living and Breakfast area, Living Room with Fireplace, All Secondary bedrooms upstairs with large walk in closets, full bathroom upstairs, Huge upstairs gameroom with closet space that is large enough to entertainment family and friends!

SEE MORE

MARKET HIGHLIGHTS

  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)
  • Dallas metro's economy is worth $579 billion in Gross Metro Product and projected to grow to $613 billion in 2019 (USMayors.org, 2018)
  • Home to 20 Fortune 500 headquarters, 39 Fortune 1000 headquarters and 12 of Forbes' top private companies (Fortune)
  • Dallas metro contributes to 31.9%% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)
  • Dallas metro has 67.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Candle Ridge West

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Candle Ridge West

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9191734

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Hazel Harvey Peace Elementary School Primary Regular 586 29 5
Wedgwood Middle School Middle Regular 931 54 4
Southwest High School High Regular 1,266 97 3

Hazel Harvey Peace Elementary School

  • Education Level: Primary
  • # of students: 586
  • # of teachers: 29
5
GreatSchools Rating

Wedgwood Middle School

  • Education Level: Middle
  • # of students: 931
  • # of teachers: 54
4
GreatSchools Rating

Southwest High School

  • Education Level: High
  • # of students: 1,266
  • # of teachers: 97
3
GreatSchools Rating
 

$187,200$228,800$208,000

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$767
Property Tax -$551
Property Insurance -$183
HOA -$17
Property Management Fees -$99
CASH FLOW
$153

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$208,000

PROJECTED PRICE

$1,770

PROJECTED RENT

0.85%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 11.43%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$60,870

INVESTMENT

$60,870

Down Payment
$52,000
Rehab Estimate
$5,750
Closing Costs
$3,120

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$767

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $52,000
Loan Amount $156,000
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$22,365

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,770

    LIST RENT
  • $0.66

    LIST RENT PER SQFT
  • $1,756

    COMP ESTIMATED VALUE
  • $0.65

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7503$1,7704$1,7955$1,795
$1,795
RENT COMPS ANALYSIS
  • 4648 Cool Ridge Court Fort Worth, TX 3
    • 4 beds 3 baths ∙ 2,702 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,702 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $0.66
    •  
  • 7327 Tree Ridge Court Fort Worth, TX 1
    • 4 beds 3 baths ∙ 2,674 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,674 Sqft ∙ Built 2001
    property image
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.63
    •  
  • 4900 Palm Ridge Drive Fort Worth, TX 2
    • 4 beds 3 baths ∙ 2,674 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,674 Sqft ∙ Built 2001
    property image
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.65
    •  
  • 4620 Sleepy Ridge Circle Fort Worth, TX 4
    • 4 beds 3 baths ∙ 2,754 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,754 Sqft ∙ Built 2002
    property image
    LEASED 10/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.65
    •  
  • 4713 Palm Ridge Drive Fort Worth, TX 5
    • 4 beds 3 baths ∙ 2,674 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,674 Sqft ∙ Built 2001
    property image
    LEASED 12/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.67
    •  
PROPERTY LISTING DETAILS
Sherri Seay
All Cities Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14420816
Last Updated: 08/25/2020
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